U.S. Faces Inflation Timebomb Poised to Explode Just Before the Holidays

NewsWeek ^ | 11/1/22 | Giulia Carbonaro

[EBH]

After two difficult years for the global economy and in the midst of an energy crisis fueled by the Russian invasion of Ukraine, U.S. diesel inventories are currently "unacceptably low," National Economic Council Director Brian Deese said on Bloomberg TV last week.

This supply crunch is raising concerns among analysts and energy experts of an incoming slowdown of the U.S. economy, which could be exacerbated by the national strike planned by railroad workers for mid-November.

And in May and June, diesel and gas prices reached record highs, threatening to bring shipping and logistics to a grind and harming drivers' at the pump.

"Supply chain costs skyrocketed in the past two years, driven by surging demand and tight supply. In January, shippers had to pay more than $3.4/mile on average for a dry van truckload on the spot market, almost double what they were paying before the pandemic," Mazen Danaf, senior economist at Uber Freight, told Newsweek.

After two difficult years for the global economy and in the midst of an energy crisis fueled by the Russian invasion of Ukraine, U.S. diesel inventories are currently "unacceptably low," National Economic Council Director Brian Deese said on Bloomberg TV last week.

This supply crunch is raising concerns among analysts and energy experts of an incoming slowdown of the U.S. economy, which could be exacerbated by the national strike planned by railroad workers for mid-November.

And in May and June, diesel and gas prices reached record highs, threatening to bring shipping and logistics to a grind and harming drivers' at the pump.

"Supply chain costs skyrocketed in the past two years, driven by surging demand and tight supply. In January, shippers had to pay more than $3.4/mile on average for a dry van truckload on the spot market, almost double what they were paying

[LibsRJerks]

Re:

They’re already talking about diesel rationing here in New England, on top of the price increase. As in … sorry, you can’t entirely fill your tank.

I know some seniors who keep their homes toasty warm during winter and they are gonna suffer come mid-February. This is gonna suck.

Store shelves will be bare for the most part. Whatever gets delivered will get bought up within hours. I have family up there and they don’t care a whit about any of this — Biden voters all. They’ll be walking around their homes wearing their winter coats.